Oleoducto de Colombia (ODC), which transports crude throughout the country, said it is ready to transport the additional oil that Ecopetrol (NYSE:EC) would produce, if the government decides to bet on fracking.
The Colombian government has initiated a strategy to boost the exploration and production of hydrocarbons in the country, but concerns about loss of self-sufficiency continue. María Fernanda Suarez, Minister of Mines and Energy (MinEnergia), talked to the possibility of importing natural gas and the need for a new regasification plan in the Pacific.
The private sector is developing an ambitious project to build a new refinery in the country. The project received the resources needed through V.I.P Group International, a private investment fund in the US, and the construction phase could begin soon.
Canacol Energy’s (TSX:CNE) CEO, Charle Gamba, spoke about the completion of the firm’s gas pipeline in the Colombian Caribbean.
Ocensa, the largest oil pipeline in Colombia, announced an increase in transport prices, generating controversy in the sector. This “fight” between oil companies and Ocensa continues and government representatives spoke on this issue.
Promigas is building a pipeline for Canacol Energy (TSX: CNE) and this project is progressing quickly. Promigas representatives spoke about the second stage of this important project and its possible delivery date.